Photronics, Inc. (NASDAQ:PLAB) CEO Sells $421,750.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer now owns 510,850 shares of the company’s stock, valued at approximately $12,311,485. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kang Jyh Lee also recently made the following trade(s):

• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.00, for a total value of $420,000.00.
• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The stock was sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Price Performance

NASDAQ PLAB opened at $24.57 on Tuesday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 11.76 and a beta of 1.39. The stock’s fifty day moving average price is $24.67 and its 200 day moving average price is $24.35. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $222.60 million for the quarter, compared to analyst estimates of $218.00 million. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLAB has been the subject of several recent analyst reports. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson boosted their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

A number of institutional investors have recently bought and sold shares of PLAB. GAMMA Investing LLC increased its stake in shares of Photronics by 17.6% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 516 shares during the period. Franklin Resources Inc. grew its position in Photronics by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after purchasing an additional 3,217 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Photronics by 12.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after buying an additional 8,372 shares during the last quarter. Meros Investment Management LP lifted its holdings in shares of Photronics by 5.6% in the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock valued at $11,796,000 after buying an additional 25,471 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

About Photronics

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.